Chetak Outsells Ola Electric Scooters In December!

Updated: Friday, January 3, 2025, 11:23 [IST]

The Indian electric two-wheeler market experienced significant growth in 2024, with a total of 1.94 million EVs sold across various segments. Electric scooters and motorcycles made up a substantial portion, accounting for 1.14 million units, which is a 59% share of the market. This marked an increase from the previous year's 56% share, showcasing a robust growth rate of 33%.

Ola Electric

Ola Electric maintained its position as the leading e-two-wheeler manufacturer in India for 2024, achieving total sales of 4,07,547 units. This represents a 52% year-on-year increase and places Ola significantly ahead of its competitors. Despite a decline in December sales to 13,769 units, Ola's overall performance remained strong.

TVS

TVS Motor Co secured the second spot in December with sales of 17,212 units and a market share of 23%. The iQube model had its best month in October with sales reaching 30,180 units. For the entire year, TVS sold a total of 2,20,472 units, marking a year-on-year growth of 32%.

Bajaj Chetak

Bajaj Auto achieved a milestone in December by becoming the top seller for the month with its Chetak model. The company sold 18,276 units, capturing a market share of 25%. However, Bajaj's cumulative yearly sales stood at 1,93,439 units, placing it third overall behind Ola and TVS Motor Co.

Ather Energy

Ather Energy held onto its fourth position in December with sales of 10,421 units and a market share of 14%. Throughout the year, Ather sold a cumulative total of 1,26,165 units. The Rizta family e-scooter has been gaining popularity and was awarded Autocar India's Electric Two-Wheeler of the Year for 2025.

Greaves Electric Mobility

Greaves Electric Mobility ranked fifth with sales of 2,795 units in December. The company's Nexus e-scooter has been gaining traction and contributed to their market share of approximately 3.81%. Meanwhile, Hero MotoCorp faced challenges in December with only about 1,020 units sold.

Hero MotoCorp

Despite Hero MotoCorp's dip in December sales compared to previous months' trends from its subsidiary Vida, new product launches are anticipated to boost their performance in 2025. These include new scooters and an electric bike developed jointly with Zero.

The competition between legacy manufacturers like Bajaj Auto and TVS Motor Co is expected to intensify further into next year. With each top OEM surpassing their previous year's sales figures comfortably in CY2024 due to increased demand for electric vehicles across India’s automotive landscape.